Confused to Confident: The Value of Communication
Many of the clients we work with have limited experience or interest in investing. Specifically in these relationships, trust is a critical element for ensuring comfort and peace of mind throughout the investment process.
When we first onboarded one of our high net worth clients, she didn't ask many questions and was rather hands-off with her investments. Often, it's "low-maintenance" clients like her that require the most attention - as it can be unclear how the client is feeling. From our first meeting, being transparent and clear in my communication was the first step in building trust and establishing open lines of inbound and outbound communication. From the onset, our client was aware that if she ever needed anything, or had any concerns, that we would be more than happy to speak with her.
As time went on, I met with the client on a regular basis to discuss ongoing market conditions, her portfolio's performance, and relevant changes we had made to her strategy. During these meetings, I took time to educate her on her investment strategy and why it remained suitable for her needs, and in line with her risk tolerance. Over time, this open dialogue, combined with this baseline of understanding we had worked towards, provided not only comfort, but confidence in her investment strategy - ultimately reducing concerns, minimizing errors, and providing peace of mind for my client.